Lee County Real Estate after Irma

Lee County Real estate after Irma: This is an update to the case study “SWFL Real estate after Irma” that was presented by Jeff Tumbarello, Broker Steelbridge Realty LLC/ Director SWFL REIA at the SWFL REIA luncheon in October.

Disclosure:

  • This presentation is meant to provide some guidance from a statistical point of view.
  • This is my work done for my use and shared with you.
  • All data exported from MLS and trended with Microsoft excel.
  • Data was exported on 11/15/2017

Lee County Real estate after Irma: Where is the market today?

Volume Jan thru October YTD (Year to Date)
Lee County Residential

2016 2017 DIFF
Sales Volume  $  4,460,924,501 $4,747,859,631 6.43%
Sales Counts 16,341 16,419 0.48%

Note: Volume is the most important metric in a market. The fact that volume is not down from a year over year perspective is a reason for optimism.

Lee County Real estate after Irma: Pricing
Jan thru September YTD
Lee County Residential

Average Sold Price  $ 272,990 $289,169 5.93%
Median Sold Price  $205,000 $220,000 7.32%

Note: The pricing always seem to go up after a Hurricane. I think the lower price points have more cancellations.

Lee County Real Estate after Irma: Cash Sales Percentage.
Jan thru September YTD
Lee County Residential

Sales Counts in cash 6,849 6,680 -2.47%
Cash % 41.91% 40.68% -2.93%

Note: The cash sales percentage is still a very positive metric for the market.

Lee County Real Estate after Irma: October 2016 versus October 2017 Volume and Sales Counts

2016 2017 DIFF
Volume  $      376,077,728 $368,417,806 -2.04%
Counts 1,406 1,318 -6.26%

Note: Some of the sales counts and volume are from the previous month.

Lee County Real Estate after Irma: October 2016 versus October 2017 Pricing

2016 2017 DIFF
Average  $267,481 $279,528 4.50%
Median  $210,000 $215,000 2.38%

Lee County Real Estate after Irma: October 2016 versus October 2017 Cash Sales Metrics

2016 2017 DIFF
cash 540 484 -10.37%
Cash % 38.41% 36.72% -4.39%

Lee County Real Estate after Irma: Foreclosures:

From the October 2017 Lee County Foreclosure Trend Report

October 2017 Lee County Foreclosure Trend Report

Notes:

  • I have seen interviews with public and private individuals referring to a bump in the foreclosures.
  • You have to understand the timeline to understand the possible trends.
  • The earliest a foreclosure will be filed is roughly 90 days from today. Then you have generally a 6 month process.
  • Due to our high percentage of cash sales since 2009. It is unlikely to trigger a mass event like the end of the last cycle.

Lee County Real Estate after Irma: How do we compare to other storms?

Lee County Real estate after Irma Lee County Real estate after Irma Lee County Real estate after Irma

Notes: From a pattern perspective we are resembling Wilma the most. Time will tell if that is the case.

Thinking of buying or selling? We would love to sit down and discuss your options.

buying a house in florida Steelbridge Realty LLC  is a Licensed Real Estate Brokerage that utilizes cutting edge marketing techniques and data driven Real Estate solutions in today’s ever changing environment. Our group of professionals have decades of experience and have navigated through many business cycles. Our diverse background gives us the tools to guide people towards successful decisions.

During the beginning of the housing downturn Steelbridge Realty LLC was the Brokerage arm of several private equity entities. We assisted them with asset modeling and market metrics. Many prominent local commercial projects were included in this scope of transactions. in 2012 Jeff and Cristina bought the other partner out and relocated the company to North Fort Myers. It now serves as a boutique style firm cater to it clients and the community at large.

For more information call 239 694 3300 or use the form below.


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The post Lee County Real Estate after Irma appeared first on Steelbridge Realty LLC.

from Steelbridge Realty LLC https://northfortmyersonline.com/2017/11/15/lee-county-real-estate-after-irma/
Source: https://rxnctus.tumblr.com/post/167536474726

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